Almond Resorts to Close Almond Beach Village Property in Barbados

Barbados’ Almond Beach Village will close April 30 amidst “the deteriorating quality of the product,” according to a statement issued by Ralph Taylor, CEO of Almond Resorts. Following the closing, guests currently booked at the 395-room resort will be relocated to Almond Beach Club and/or Almond Casuarina Beach, both on Barbados.

About 1,000 workers at the all-inclusive property had recently taken voluntary salary cuts within the past month in an effort to save the troubled resort, according to local media reports.

The company is struggling under the burden of more than $100 million in accumulated debt, said Gervase Warner, president and chief executive officer of Neal & Massy, the Trinidadian conglomerate that owns Almond Resorts.

Warner applauded the ex-employees’ offer to cut their salaries, but said he would be “remiss” to allow employee to make that sacrifice and in any event “would not be sufficient for the magnitude of investment required.”